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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income     $ 9,751 $ 5,837  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation $ 5,507 $ 5,161 10,975 10,236  
Amortization     3,476 5,353  
Allowance for doubtful accounts     168 49  
Inventory excess and obsolescence reserve     87 (589)  
Stock-based compensation expense     2,714 2,588  
Loss (gain) on disposal of property, plant and equipment (520)   (625) 66  
Impairment of long-lived assets and (gain) loss on contract (906)   (2,089)    
Deferred compensation     (4,637) (170)  
Non-cash lease expense     2,482    
Other non-cash adjustments     176 151  
Changes in operating assets and liabilities - net of effects of acquisition:          
Accounts receivable     (15,973) (16,331)  
Inventories     (4,033) (8,984) $ (39)
Tooling in progress     (1,367) 1,033  
Prepaids and other current assets     (1,561) (1,094)  
Accounts payable     9,275 14,324  
Deferred income taxes     2,504 1,484  
Operating lease obligations     (2,270)    
Accrued liabilities     6,631 4,277  
Net cash provided by operating activities     15,684 18,230  
CASH FLOWS FROM INVESTING ACTIVITIES          
Purchase of property, plant and equipment     (26,351) (16,986)  
Proceeds from sale of property, plant and equipment     5,228 414  
Net cash used in investing activities     (21,123) (16,572)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Proceeds from bank revolving credit notes     218,867 157,388  
Payments on bank revolving credit notes     (210,414) (158,791)  
Repayments of other long-term debt     (547)    
Purchase of treasury stock     (2,323)    
Payments on finance leases     (157) (310)  
Proceeds from the exercise of stock options       80  
Other financing activities       (27)  
Net cash provided by (used in) financing activities     5,426 (1,660)  
Net decrease in cash and cash equivalents     (13) (2)  
Cash and cash equivalents at beginning of period     118 121 121
Cash and cash equivalents at end of period $ 105 $ 119 105 119 $ 118
Supplemental disclosure of cash flow information:          
Cash paid for interest     999 1,077  
Cash paid for taxes     450 716  
Non-cash construction in progress in accounts payable     $ 5,633 $ 2,994